Irish Bank Resolution Corporation Ltd & Anor v Fingleton (Unapproved)

IRISH BANK RESOLUTION CORPORATION (IN SPECIAL LIQUIDATION) AND IRISH NATIONWIDE BUILDING SOCIETY

MICHAEL P. FINGLETON (ACTING THROUGH HIS LAWFULLY APPOINTED ATTORNEYS EILEEN FINGLETON AND MICHAEL FINGLETON JNR.)

      This is an appeal against the judgment of the High Court (Hunt J.) refusing the appellant�s application to dismiss or permanently stay the proceedings pursuant to the inherent jurisdiction of the Court in the interests of justice where, by reason, of the passage of time and the severe ill health of the appellant it is said that there is a real or substantial risk of an unfair trial or an unjust result.

      INBS was severely impacted by the financial crisis of 2008 and became grossly insolvent.� It transferred various commercial loans subject to extremely significant discounts from their face value to the National Asset Management Agency in 2010. This crystalised losses to INBS amounting to � 6,031,000,000.

      �The appellant counter claimed in respect of the failure to provide him with Directors and Officers insurance cover.� By reasons of the absence of this cover, he has funded his defence of these proceedings privately.�